Celebrating What's Swept Under

23Jul7:52 amEST

Weekend Overview and Analysis 07/23/23 {Video}

The following video is a brief, condensed version of the full-length Weekend Video Strategy Session which I present each weekend to members of Market Chess Subscription Services. In the longer version, I offer tons of actionable trade ideas, educational content, and in-depth objective analysis across all markets. Please click here for more...

21Jul2:09 pmEST

This Sentiment is No Joke

CNN Fear & Greed Index's (below, updated) rigorous methodology has pointed to stubborn "Extreme Greed" for over a month now with only very brief slippage down to "Greed" territory. For as long as I have been tracking this Index, this is easily one of the longest streaks in either extreme territory that I have seen. But of course that is not...

20Jul2:18 pmEST

It's Not Just Netflix and Tesla

The headlines will naturally gravitate towards last evening's marquee earnings reports, NFLX and TSLA, as being the genesis for today's selloff mostly led lower in the Nasdaq. However, do not overlook rates on the 10-Year Note (below on the weekly chart for TNX) bouncing back over 3.8% and off prior resistance trend as support now. Higher...

19Jul12:32 pmEST

Seinfeld Economics; TINSTAAFL

"There ain't no such thing as a free lunch" The current market is making a mockery of seemingly obsolete concepts about how markets work, where good news is good news, bad news is good news, no news is good news, and then sometimes horrendous news is interpreted as great news anyway. It seems like there is a permanently new regime. But then...

18Jul3:35 pmEST

The Sun Sets on Slam Dunk Investing

Earlier today I was reminded by a Member who had nailed the weakness in Hershey, below on the quarterly chart, that the iconic confectioner in central Pennsylvania had defied the market melt-up and has been as weak as any name since early-May. Alongside KO MCD PEP, I would have to say HSY represents the QE/ZIRP liquidity bonanza insofar as...

17Jul2:58 pmEST

Don't Write Off This Civilization, Just Yet

Quite a bit of buzz again about the death of the Dollar of late, especially in light of the selloff in the greenback. And while I am quite bullish on commodities due to entrenched inflation for the rest of the decade, in the short-term I still think the Dollar has some unfinished business above. In particular, we spent some time this weekend...

16Jul9:56 amEST

Weekend Overview and Analysis 07/16/23 {Video}

The following video is a brief, condensed version of the full-length Weekend Video Strategy Session which I present each weekend to members of Market Chess Subscription Services. In the longer version, I offer tons of actionable trade ideas, educational content, and in-depth objective analysis across all markets. Please click here for more...

14Jul11:26 amEST

You Gotta Be the Outlaw Sometimes

Consider how deeply uncool, unpopular, mocked, hated-on, and overall vilified one would have to be to look for tops now. Bulls have argued that this is a new, one-way uptrend in an era of possible hyperinflation but a nonstop bull run nonetheless--I still reject any notion of imminent hyperinflation for the world's reserve currency (The...

13Jul3:28 pmEST

Only D.B. Cooper Can Turn This Market Now

Days like today make it feel like the market will rise at least 1% per day in perpetuity. After all, we have nonstop 0DTE options traders without a care in the world about SEC scrutiny, a Fed Chair who hems and haws even when he is supposedly hawkish, daily meme stocks like EDTX going bananas to the upside, and mega cap tech like META seemingly...

12Jul10:19 amEST

Celebrating What's Swept Under

Markets are still ebullient as I write this, with the softer CPI print this morning going as expected for the majority. The issue is that since the June CPI data, we have gasoline prices and oil going much higher, as seen respectively below on the daily charts for UGA and USO ETFs. Even though energy is only one part of the CPI, it is surely a...